Duplex with Detached Accessory
1105 Langstaff Street, Essexville, MI 48732
For Sale
$121,900
A three-bedroom primary dwelling is paired with a detached one-bedroom accessory unit and an attached garage.
Property Size1,450 SF
Price / SF$84.07
Days on Market96
Property Features for 1105 Langstaff Street
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
3
Natural Gas
No
2
Public Sanitary
0.68
29620
Crawl,Slab
1
Yes
Building Details
Year Built
Buildings
Listing Agency:
Gold Pine Real Estate
(989) 613-7355
Listed By:
Jodi Schempp
Source:
Parkplacehomesonline
Added: Aug 6
Changed: Nov 9
Last Checked: Nov 8 at 9:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gold Pine Real Estate
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Investment Insights
Based on property information with market context.
Built in 1940, the property includes a three-bedroom, one-bath main residence and a detached accessory dwelling with one bedroom and one bath. An attached garage serves the main house. A new metal roof is scheduled for installation before closing.
The property is at 1105 Langstaff Street in Essexville. Schools, parks, shopping, and restaurants are nearby, and Bay City is a few minutes away.
The property is at 1105 Langstaff Street in Essexville. Schools, parks, shopping, and restaurants are nearby, and Bay City is a few minutes away.
Key Highlights
- Main residence has 3 bedrooms and 1 full bath
- Detached accessory dwelling includes 1 bedroom and 1 bath
- New metal roof planned for installation before closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,477
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$169,540
$169.5K
Cap Rate 7%
$121,100
$121.1K
Cap Rate 9%
$94,189
$94.2K
Market Conditions
NOI Build-Up for 1,450 SF
Gross rent
$13.1K $9.00/SF
− Vacancy
−$940 −$0.65/SF
EGI
$12.1K $8.35/SF
− OpEx
−$3.6K −$2.51/SF
NOI
$8.5K $5.85/SF
Area
Bay County, MI
Vacancy
7.20%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$169,540
Cap Rate 7%
$121,100
Cap Rate 9%
$94,189
Alternative Uses
Best Use
Multifamily LT 5
$121.1K
$106.0K – $141.3K
NOI $8,477 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$113.8K
$99.6K – $132.8K
NOI $7,967 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$262.5K
$229.7K – $306.2K
NOI $18,374 @ 7.0% cap · market cap 15.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
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Business Placement
Demographics for 48732, MI
11,177
Population
5,329
Households
2.1
Avg Household Size
44
Median Age
21%
College-Educated
94%
High-School Grad
24.6 sq mi
ZIP Area
454
Density / Sq Mi
$53,466
Median Household Income
$36,392
Median Earnings
$759
Median Rent
$160,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - A three-bedroom primary dwelling is paired with a detached one-bedroom accessory unit and an attached garage.
Where is this duplex located?
The property is located at 1105 Langstaff Street Essexville, MI.
What is the asking price?
The asking price for this property is $121,900.
What are key features of this property?
This property features: Main residence has 3 bedrooms and 1 full bath; Detached accessory dwelling includes 1 bedroom and 1 bath; New metal roof planned for installation before closing
